The Delaware Council on Development Finance okayed more than $700,000 in grants for Advanced Materials Technology, north Wilmington.
Advanced is a development and manufacturing company with separations technology “chromatography” that pharmaceutical companies have used.
The grants are part of a decision by the company to remain in Delaware and expand its research and development and manufacturing operations. Advanced was founded in 2005.
The company is known for creating the first small-particle core-shell packing material for high-performance liquid chromatography using its own HALO Fused-Core technology.
According to a release from the Delaware Prosperity Partnership, the expansion will allow Advanced Materials Technology to strengthen its capabilities and retain its innovative edge. The company currently employs 39 full-time staff and intends to nearly double its staff by adding 35 new full-time positions over the next three years.
Advanced Materials Technology leases more than 17,000 square feet of R&D, manufacturing, and office space at Concord Plaza in north Wilmington. It plans to lease an additional 12,380 square feet beginning this fall.
Advanced Materials Technology is making a capital investment of $4.5 million – including $3 million to renovate its laboratory space.
The money from the Delaware Strategic Fund consists of a Jobs Performance Grant of $89,705 and a Delaware Lab Space Grant of $619,000.
The lab space grant funds were part of the state budget and assists businesses and landlords in secure laboratory facilities that have been in short supply in Delaware.
“These grants really tipped the scales on our decision to remain in Delaware,” said Advanced Materials Technology co-founder and President Tim Langlois. “With this funding, we will be able to focus on the development of our products, provide additional employment opportunities and continue the community involvement we’ve established through internships with University of Delaware students and activities like Bike to the Bay.”
The Delaware Prosperity Partnership is a private economic development agency that receives government and private sectors funding.
